Iris Ceramica, the parent company of several ceramic floor and wall tile manufacturers including GranitiFiandre, may be liquidated.

According to reports from Tile Edizioni, it was disclosed in a recent company board meeting that sales had dropped 30% in the latter half of 2008.

Hundreds of employees and three production facilities will be affected should the voluntary liquidation take place.

Iris Ceramica’s chairman Romano Minozzi has led the company since it was founded in 1961.